Century Leisure Worldwide Holdings, a gaming and leisure funding firm, simply shared its outcomes for the 2021/2022 fiscal 12 months. The report additionally outlined the enterprise’ plans of launching gaming tables in Cambodia.
Century Leisure to Launch Desk Video games in Dara Sakor
Yesterday, Century Leisure posted its monetary outcomes for the earlier 12 months. Judging from the numbers, the corporate is encountering some fairly harsh difficulties. Notably, the revenues declined by a whopping 72.5% and are presently sitting at $25,500. On the identical time, losses declined as effectively to solely $471,000.
In its report, Century Leisure confirmed that it nonetheless holds a permission to run two gaming tables at a on line casino in Dara Sakor, Cambodia. Nonetheless, the corporate nonetheless has to satisfy sure stipulations earlier than with the ability to formally function the tables in query.
Regardless of that, Century Leisure is bold on fulfilling these circumstances and launching mass desk video games. As of now, the corporate envisions launching the brand new choices by the tip of September this 12 months. Century Leisure hopes that the desk video games will start to contribute to its revenues within the second half of the fiscal 12 months.
The administration of the Firm even have carried out the re-opening plan of the gaming tables enterprise which to be positioned in a brand new on line casino in Dara Sakor Funding Zone, Cambodia, and goal to begin the operation of gaming tables enterprise from September 2022 after the completion of programs testing and coaching of on line casino workers.
Century Leisure assertion from the FY 2021/22 report
As well as, the corporate mentioned that it’ll proceed to be proactive in controlling administrative prices and containing capital expenditures.
The Firm Is Taking Motion to Recuperate Its Enterprise
Century Leisure’s enterprise is struggling due to quite a few elements, most notably the adverse impacts of the COVID-19 pandemic. The pandemic induced the corporate’s revenues to plummet, placing it in an particularly uneasy monetary place. To make issues worse, Century Leisure has liabilities of over $8.3 million.
Due to all of that, Century Leisure is pressured to work additional arduous to mitigate the injury brought on by COVID-19. The corporate now hopes to “efficiently handle the influence of the outbreak” and profit from authorities stimulus to get well and resume its enterprise.
In the meantime, the corporate’s chairman and chief government officer agreed to not demand fee on convertible bonds and promised to ensure borrowings from third events for a complete of $4.3 million.
Century Leisure isn’t the one firm that has been impacted by the adverse results of COVID-19. A report in Could revealed that many casinos within the nation now face labor shortages and are unable to reopen.